Alliancebernstein L.P. Grows Position in Tellurian Inc (TELL)

Alliancebernstein L.P. raised its holdings in shares of Tellurian Inc (NASDAQ:TELL) by 90.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,800 shares of the oil and gas producer’s stock after purchasing an additional 38,400 shares during the period. Alliancebernstein L.P.’s holdings in Tellurian were worth $787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hudson Bay Capital Management LP bought a new position in shares of Tellurian during the fourth quarter valued at approximately $487,000. Citadel Advisors LLC increased its stake in shares of Tellurian by 2,111.6% during the fourth quarter. Citadel Advisors LLC now owns 724,929 shares of the oil and gas producer’s stock valued at $7,061,000 after purchasing an additional 692,150 shares in the last quarter. Granite Point Capital Management L.P. bought a new position in shares of Tellurian during the fourth quarter valued at approximately $438,000. Monashee Investment Management LLC bought a new position in shares of Tellurian during the fourth quarter valued at approximately $974,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Tellurian during the fourth quarter valued at approximately $206,000. 13.59% of the stock is owned by institutional investors and hedge funds.

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In other news, insider Meg Gentle purchased 100,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were purchased at an average price of $6.96 per share, for a total transaction of $696,000.00. Following the completion of the acquisition, the insider now directly owns 11,792,263 shares in the company, valued at approximately $82,074,150.48. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diana Derycz Kessler purchased 50,000 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were purchased at an average price of $6.68 per share, for a total transaction of $334,000.00. Following the acquisition, the director now owns 36,415 shares of the company’s stock, valued at $243,252.20. The disclosure for this purchase can be found here. Insiders have acquired 300,000 shares of company stock valued at $2,115,250 in the last ninety days. Insiders own 48.30% of the company’s stock.

Shares of NASDAQ TELL opened at $8.81 on Monday. Tellurian Inc has a fifty-two week low of $6.45 and a fifty-two week high of $13.74. The company has a market cap of $1,984.73, a price-to-earnings ratio of -10.74 and a beta of 1.47.

A number of brokerages have weighed in on TELL. BidaskClub raised shares of Tellurian from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 4th. Zacks Investment Research raised shares of Tellurian from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Tuesday, March 20th. Finally, Stifel Nicolaus began coverage on shares of Tellurian in a research note on Thursday, January 4th. They set a “buy” rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.69.

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About Tellurian

Tellurian Inc plans to develop, own, and operate a natural gas business and to deliver natural gas to customers worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) trading, and infrastructure that includes an approximately 27.6 million tons per annum LNG export facility and an associated pipeline.

Institutional Ownership by Quarter for Tellurian (NASDAQ:TELL)

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